NEWS
Little Green Street, Dublin 7 Tel: 01 887 0400 Fax: 01 887 0499 Email: [email protected] Web: www.dubco.ie
Dear Member
Summer is upon us and I hope we
all experience at least some good
weather over the period!
Online, phone and physical access
to Dubco
The membership of Dubco spans
every generation. We therefore
engage with members in many ways, including online, in
person and by phone. We are always doing our best to be
accessible for all members, and hope to further develop our
services in 2016 by introducing a debit card. This initiative is
very much dependent on the bank we are working with and
on other credit unions supporting what Dubco regards as an
essential service for the benefit of our members.
Since January this year online access no longer means just
checking your balance online, it also means being able to
independently complete transactions. In June, 900 such
online transactions were completed by members, almost
400 members visited our office on a weekly basis and we
also answered 800 phone calls every week. We are delighted
to have such an active membership.
Please make Dubco your first port of call for a loan
As always, we ask you to make Dubco your first choice if you
are taking out a loan. We greatly appreciate your business
which is essential for the viability of the organisation. Our
average interest rate is 7.6%, which is very competitive. A
unique feature of our loans is that they are insured, subject
to terms & conditions, at no extra cost to the member. We
currently have over €50m of funds available for members to
borrow.
IT equipment related loan 2.97% – ideal for members
starting out with Dubco
I take this opportunity to remind all members, but especially
our younger members and parents of younger members,
that we have a special IT equipment related loan with an
interest rate of only 2.97%. A major reason for this loan is
to introduce younger members to the concept of borrowing
from Dubco and to understand the process involved.
Members who build a trusting and responsible relationship
with their Credit Union tend to return again and again
throughout their lives. Dubco wants to be that trusted Credit
Union for our members and their families.
Educational loans 6.99%
It is time to consider how educational fees for school or
college can be paid for. Our rate of interest is 6.99% on such
loans. Please contact Dubco if this product is of interest to
you.
JULY 2015
facebook.com/DubcoCreditUnion
twitter.com/DubcoCU
Credit control and members in arrears
Our credit control team have been contacting members,
many of whom are paying the full amount of their loan
obligation now, but who may have missed one or two
repayments over the term of their loan. Some of these
members have entered into arrangements with Dubco in
the past and reasonably may question why they are now
being contacted. We are contacting all members in arrears
as a courtesy in case their circumstances enable them to
reduce their arrears. The law may also change with respect
to arrears in 2016, and we considered it better to contact
members than not to given that we are uncertain as to what
effect, if any, this change may have. In the event that you are
experiencing financial difficulties and are unable to keep up
to date with repayments, we recommend that you contact a
member of the Credit Control team.
Thank you
Finally, thank you again from the Board, Volunteers and Staff
of Dubco for your ongoing support. It is greatly appreciated.
WE NEED YOUR HELP!
PLEASE ASK YOUR FAMILY MEMBERS TO JOIN
We ask you to remind family members that they are
eligible to join and enjoy the benefits that Dubco
has built up for members over many years. For every
family member you introduce to Dubco we’ll give
you and them €10 each as a thank you! So the more
people you introduce the more money we’ll lodge
to your account! We need to grow our membership
and we can’t do it without your help.
Which family members may join?
Family members include a person’s parent,
grandfather, grandmother, father-in-law, motherin-law, husband, wife, partner, son, daughter,
grandson, granddaughter, brother, sister, halfbrother, half-sister, uncle, aunt, nephew, niece, first
cousin, son-in-law, daughter-in-law, brother-in-law
or sister-in-law.
Contents
Thank You from Sister Mary Richardson
Update from Dean
Winners Corner
Free Estate Planning Seminar
Volunteers Wanted
Dubco Insurance Services
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Dubco Credit Union Limited is regulated by the Central Bank of Ireland
Thank You from Sister Mary Richardson
Dear Members of Dubco Credit Union,
Since 2002 you have been supporting the St Charles Lwanga Nursery School in
Fajikunda, The Gambia. It is more than time to thank you publicly.
First a very brief idea about this school. In The Gambia children normally begin
Primary School at 7 years of age. Most of them come from homes where they
speak a local language. The medium of instruction in school is English.
In order to give children a good start a Nursery School was started by the Marist Sisters in the
late 1980s. It is a struggle to keep good teachers because schools that charge high fees can
offer teachers big salaries in order to retain their services.
So the Manager of St Charles Lwanga was in the horns of a dilemma. Did she increase
the fees for the Nursery School or could she find another way to pay teachers salaries?
That’s where Dubco came into the picture. Thanks to your donation the fees remain
small, allowing parents who don’t earn much to send their children to a good nursery
school. The shortfall in teachers’ salaries are met by you. Thank you again.
As you can see from the photos, the children are celebrating Christmas and
really enjoying themselves.
Thank you once more,
Mary Richardson
(Marist Sister)
Dean’s Update
Dear Members,
As you may already know I’m in the process of calling all our members and making them aware of certain things that are
going on here in Dubco Credit Union. There are 4 major points that I want to touch on during the call:
•
•
•
•
We’re actively looking for family members to join Dubco
We’re online now so you can view and transact on your account through www.dubco.ie
We have funds we want to lend to members at great rates
We can introduce you to a Protection Product Provider for products such as Life Assurance and Income Protection
If you want to ask me anything in particular in the mean time just give me a call on 01 887 0438 or email
[email protected] and I’d be more than happy to help! Don’t forget everyone who takes my call has a 1 in 50 chance
of winning a €50 voucher.
Hope to talk to you soon,
Dean Ladrigan
If by 31st July you are registered online & have said yes to the following you could win €1,000
eStatements
eAGM Reports
Special offers, promotions, services and more by Email
Special offers, promotions, services and more by Text Message
There is an additional draw for those who sign up between 1st April & 31st July for €250.
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Together We’re Better
Winners Corner
Monthly Member Draw Winners
PRIZES
April
May
June
€15,000
Josephine Lyons
James Delaney
Anne Heffernan
€3,000
Damien Mc Cabe
Olwyn Dowling
David Donegan
€1,000
Carmel McIlkenny
Teresa Holt
Noeleen Marrinan
Joe Ormsby
Margaret Quinn
Michelle Judge
Michael Kehoe
Sharon Murphy
Anthony Hickey
Josephine Kelly
Maeve O’Kearney White
Anthony Curley
Brid Keane
John Rock
Joseph McGarry
Michael Cregan
Gary Graham
William Howard
Michael Connell
Christopher O’Neill
Joan Fagan
John Madden
Desmond Walsh
Brian Parkes
€500
Paul Foley
Dominic Burrowes
David O’Flaherty
Damien Dowdall
Edward Deans
Thomas Daly
Carmel Clerkin
Francis Brady
Joan Johnson
Paul Knowles
Karen Clarke
Paul Hand
Sean Dempsey
Stephen Nealon
Tony Walsh
George Cadwell
Anthony Gleeson
John Doyle
Tickets
Derek Kelly
Paul Dowling
Michael Creedon
Andrea Campbell
Anthony Egerton
David Drennan
Gaeltacht Sponsorship Winners - €300 Prize
Lorcan Scott, Sarah Walker, Aoife Cullen, Jack Dooley,
Sadhbh NiChonaill, Daniel Hayden, Niamh Cullen,
Woody Sargent, Olivia Feeney & Ciara Duffy
Promotional Draws
Script Tickets - Sonja Croke
Travel Insurance Hamper - Raymond Woodhouse,
Sylvia Lawlor, Della Grogan, Mary Kavanagh, Gareth
Pierce & Denis O’Connor
€50 One4all voucher - Carl O’Keeffe, Ann Brien,
James Riordan, Joe Lumumba, Patrick O’Neill, Laura
Jane McGinley, Michelle Salinger and Damien Dowdall
Special Summer Draw - €2,400 Prize
John Rogers, Hugh Madden, Linda Hennessy,
Brendan O’Hare & Peter Murphy
Reminder – Closing Date for Matthew
Dawson Bursary
Members are reminded that the closing date for
submissions of completed applications for the
Matthew Dawson Bursary is 30th October 2015.
Members, their dependents and members
of their family residing with them are eligible
to submit an application where the member
(‘sponsoring member’) has joined Dubco prior
to the 1st June 2015 and has maintained his/
her account(s) in good standing since. Winning
students will receive €1,500 per annum for up
to four years of a third level course, subject to
terms and conditions.
For further information please contact the office
or visit our website, where the information is
located in the services section (forms area).
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FREE ESTATE PLANNING SEMINAR WITH CARNEY MCCARTHY SOLICITORS
In conjunction with our retained solicitors, Carney McCarthy, Dubco
are organising an Estate Planning Seminar, at which you’ll hear how to:
•
•
•
•
Provide for loved ones
Protect your assets
Save on fees and taxes
Plan for your legal needs (Probate, Wills and Credit Union
Nominations)
• Select the right person to manage your estate
Thursday 10th September 2015
5:30 pm - 7:00 pm
Dubco Credit Union,
Little Green Street, Dublin 7
We would ask members if possible to confirm their attendance.
Please contact Jane Corscadden on 01 8870421 or
[email protected] or Dean Ladrigan on 01 887 0438 or
[email protected].
Free to Members
Light refreshments will be provided
MAKING A WILL OR CREATING AN ENDURING POWER OF ATTORNEY
Make a Will with Carney McCarthy
For a limited period, until the 30th of September 2015,
Carney McCarthy Solicitors will draft a Will for any member
of Dubco who has held an account for more than 20 years
free of charge, subject to a discretionary donation to one
of Dubco’s 2015 chosen charities (Alone, Aoibheanns Pink
Tie, Debra Ireland, Huntington’s Association of Ireland,
Irish Autism Action, Irish Heart Foundation, Pieta House
and St.Francis Hospice); all charitable contributions should
be made via cheque or cash at appointment. All other
members, and their families, can avail of a discounted rate
of €50 plus VAT for the drafting of their will.
Creating an enduring power of attorney with Carney
McCarthy
In addition, during this limited period, Carney McCarthy
Solicitors have agreed a reduced fee of €515 plus VAT for
preparing and executing an Enduring Power of Attorney (EPA)
for any Dubco member or members of their family. For each
EPA completed Carney McCarthy will make a donation to the
Peter McVerry Trust.
Contact Eamonn Carney or Susan Behan of Carney McCarthy
Solicitors, details as below.
Carney McCarthy Solicitors
1 Clonskeagh Square, Dublin 14
Tel: 01 269 8855
Email: [email protected]
Dubco Budget Plan – Take the stress out of budgeting
Budgeting allows you to spread the cost of your bills over a
year, ensuring you will always have enough money for the
things you need and for the things you want like back to
school expenses or holidays. It also;
• Gives you a breakdown of what you are actually
spending
• Gives you control over your money
• Helps you organise your spending and savings
• Enables you to save for expected and unexpected costs
• Takes the stress out of paying bills
Contact Ann Behan on 01 887 0419 or
[email protected] or Caroline Wilkinson on 01
887 0416 or [email protected] for further
information.
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Dubco Credit Union Limited is regulated by the Central Bank of Ireland
Volunteers Wanted – Get Involved
Dubco are always seeking interested members to volunteer within the Credit Union. We would like to take this opportunity to
invite those of you who are interested to contact the office for more information on how to get involved. There are a number of
different committees that you can opt to be involved in suiting your particular talents and interests.
Benefits of volunteering include:
• Gaining skills and experience in a senior role in a professional financial service provider
• Availing of education and training, both hands-on and via seminars
• Involvement in interesting and worthwhile developmental and business projects
Contact Jane Corscadden on 01 887 0421 or [email protected] or Dean Ladrigan
on 01 887 0438 or [email protected] for further information.
Loan Rates
Our current personal loan interest rates charged, based on repayment term, purpose and/or amount, are variable and are
summarised as follows:
Interest Rate
APR*
Loan Type
8.99%
9.37%
Personal Loans with repayment terms of more than five years
8.49%
8.83%
Personal Loans with repayment terms of between three and five years
7.99%
8.29%
Personal Loans with repayment terms of more than one year and up to three years
6.99%
7.22%
Personal Loans with repayment term less than or equal to one year
House Purchase / Mortgage Redemption Loans / Secured by Legal Charge Loans including Bridging
Finance
Educational Loans
Home Improvement Loans for amounts greater than or equal to €20,000 and with repayment
terms of less than 10 years
5.97%
6.14%
Special Car Loans available January, April and July 2015 subject to special terms & conditions
4.97%
5.08%
Personal Loans covered by member share balance
2.97%
3.01%
IT equipment (education related) loans to a maximum of €1,000 subject to special terms &
conditions
*The Annual Percentage Rate (APR) included is an example only; all APR examples are based on a €1,000 loan over a period of 12 monthly
repayments. All loans are subject to certain terms and conditions and underwriting criteria.
Special Car Loan Rate July 2015
5.97% (6.15% APR) T&C apply
EXAMPLE:
€20,000
over
5 years
Loan: €20,000
Rate: 5.97% (6.15% APR)
Repayment period: 5 years
Repayment amount: €88.98 per week
Total repayment: €23,137.06
Total interest: €3,137.06
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Together We’re Better
Dubco Insurance Services
Life Savings Insurance
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•
•
•
This is a death benefit
Maximum €13,000
Provided free by Dubco for its members
Cover depends on the age the funds were saved:
- 6m to 54 years – cover = €1.00 per €1.00 saved
- 55 to 59 years – cover = €0.75 per €1.00 saved
- 60 to 64 years – cover = €0.50 per €1.00 saved
- 65 to 70 years – cover = €0.25 per €1.00 saved
• Contact Dubco on 01 887 0400 for full T&C
Death Benefit Insurance (DBI) Scheme
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•
•
•
Used to offset bereavement expenses
Premium of €2.75 per month paid by the member
Benefit is determined annually – currently €3,050
Contact Dubco on 01 887 0400 for full T&C
Travel Insurance
• In association with KennCo
• Comprehensive Worldwide Annual - Multi-trip
• Covers you, your spouse/partner & children
(unmarried under 19 years or in full time education
under 23)
• Contact Dubco at 01 887 0400
for a quote
Protection Insurance**
• Arrange the purchase of Life Assurance, Serious Illness
Cover and Income Protection
• ORCA can review your existing policies and possibly
save you money!
• Contact John Molloy at 01 210 3030, or email
[email protected] & don’t forget to mention Dubco!
Loan Protection Insurance*
• Loan balance is repaid in full upon death
• No obligation on dependants to repay outstanding loan
balance
• Provided free by Dubco for its members
• Subject to pre-existing condition limitation
• Maximum cover depends on age:
- up to the age of 69 - €75,000
- aged between 70 and 79 - €30,000
- aged 80 and over – cover ceases
• Contact Dubco on 01 887 0400 for full T&C
Home & Contents Insurance
• In association with Allianz
• Contact Dubco at 01 887 0400
• Email [email protected]
Health Insurance**
• Contact BuyHealthInsurance.ie at 01 484 5122
• Email [email protected]
• Visit www.BuyHealthInsurance.ie/dubco for detailed
comparisons and quotes
• Don’t forget to mention Dubco!
Car Insurance**
• No administration charges
• Members qualify for a 10% discount so don’t forget
to mention Dubco!
• Contact AXA at 1890 600 600 or call into your local
branch.
*Pre-Existing Condition Limitation (PCL)
If a member dies within 6 months of drawing down a loan, and had been diagnosed or was being treated for a medical
condition within the 6 months prior to the loan draw down, no loan protection insurance will be paid. This only applies if the
member actually dies of the condition diagnosed and only applies to the amount drawn down in the pre condition period.
With respect to savings, lodgements made in the 6 months prior to the member’s death are not insured if a pre-existing
condition applies.
**Dubco does not advise on and is not involved in the sale of these insurance policies and will not accept any liability for
decisions made by members in this regard.
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